Middle East Africa Rigid Plastic Packaging Market
The Middle East and Africa (MEA) rigid plastic packaging market is experiencing steady growth, driven by factors like rising disposable incomes, urbanization, and increasing demand for packaged food and beverages. This market, estimated at USD 18.8 billion in 2023, is expected to reach USD 24.6 billion by 2032
Strategies for Market Share:
Product Innovation:
- Players are focusing on developing innovative and sustainable packaging solutions. This includes lightweighting designs, bioplastics, and using recycled content. For instance, in June 2022, SABIC partnered with stakeholders to create a closed-loop system for recycling soft plastic food packaging.
Geographic Expansion:
- Companies are entering new markets within the MEA region to capitalize on the growing demand. Established regional players are expanding into neighboring countries, while global players are setting up manufacturing facilities in the region to reduce costs and improve delivery times.
Mergers & Acquisitions:
- Mergers and acquisitions are another strategy for growth. This allows companies to consolidate their market share, acquire new technologies, and expand their product portfolios.
Factors Influencing Market Share:
Production Capacity: Companies with larger production capacities can cater to a wider customer base and offer competitive pricing.
Product Portfolio: Offering a diverse range of rigid plastic packaging solutions for various applications (bottles, jars, trays) attracts a broader client base.
Technological Advancements: Companies that invest in advanced manufacturing technologies can produce high-quality, efficient packaging solutions.
Sustainability Initiatives: The growing focus on sustainability is a crucial factor. Companies with eco-friendly practices and recyclable packaging solutions are gaining traction.
Key Companies in the Middle East & Africa Rigid Plastic Packaging market include
- PLC Amcor
- SECURE AIR
- Coveris
- Fruit Global Inc.
- Mondi
- Companies Sonoco Products
- WINPAK LTD. Inc.
- CCL Industries
- Permanent Flexibles etc.
Industry News
October 2023: Egyptian rigid plastic packaging manufacturer, Nile Plastic, announced a partnership with a European technology provider to implement a new recycling plant, boosting their sustainable packaging solutions
June 2022: Leading chemical company Sabic teamed together with Berry, Tesco, Heinz, and the United Kingdom's creative recycling initiative to shut the loop on soft plastic food packaging. Certified circular polypropylene (PP) from Sabic's Trucircle portfolio for microwaveable Heinz Beanz Snap Pots, constructed from 39% recycled soft plastic, has been produced using flexible plastic packaging gathered from Tesco stores.
December 2023: SABIC partnered with a leading beverage company in Saudi Arabia to develop a new lightweight PET bottle design, aiming to reduce plastic consumption by 20%
February 2024: South African packaging giant, Nampak, announced plans to invest in a new rigid plastic packaging production line to cater to the growing demand for pharmaceutical packaging in the region
